Zacks: Brokerages Expect Trex Company, Inc. (NYSE:TREX) Will Post Quarterly Sales of $381.52 Million

Posted by on Jun 6th, 2022

Wall Street brokerages expect Trex Company, Inc. (NYSE:TREX – Get Rating) to announce sales of $381.52 million for the current quarter, according to Zacks. Six analysts have provided estimates for Trex’s earnings, with the highest sales estimate coming in at $386.25 million and the lowest estimate coming in at $376.65 million. Trex reported sales of $311.60 million during the same quarter last year, which would suggest a positive year over year growth rate of 22.4%. The business is scheduled to report its next earnings results on Monday, January 1st.

On average, analysts expect that Trex will report full year sales of $1.39 billion for the current fiscal year, with estimates ranging from $1.34 billion to $1.42 billion. For the next financial year, analysts expect that the firm will report sales of $1.50 billion, with estimates ranging from $1.23 billion to $1.60 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Trex.

Trex (NYSE:TREX – Get Rating) last issued its quarterly earnings results on Monday, May 9th. The construction company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The company had revenue of $339.23 million during the quarter, compared to analyst estimates of $326.67 million. Trex had a net margin of 17.90% and a return on equity of 38.31%. The business’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 EPS.

Several research firms recently commented on TREX. Truist Financial cut their target price on shares of Trex from $120.00 to $90.00 in a research note on Tuesday, May 10th. Exane BNP Paribas raised shares of Trex from an “underperform” rating to a “neutral” rating in a research note on Friday, May 20th. Robert W. Baird cut their target price on shares of Trex from $120.00 to $95.00 in a research note on Tuesday, March 1st. Loop Capital lowered shares of Trex from a “buy” rating to a “hold” rating and cut their target price for the company from $118.00 to $68.00 in a research note on Monday, April 25th. Finally, Bank of America began coverage on shares of Trex in a research note on Monday, April 25th. They set an “underperform” rating and a $60.00 target price for the company. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $91.39.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Verition Fund Management LLC increased its stake in shares of Trex by 55.9% during the 1st quarter. Verition Fund Management LLC now owns 15,497 shares of the construction company’s stock worth $1,012,000 after purchasing an additional 5,555 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Trex during the 1st quarter worth $1,174,000. Advisory Services Network LLC increased its stake in shares of Trex by 35.0% during the 1st quarter. Advisory Services Network LLC now owns 3,439 shares of the construction company’s stock worth $225,000 after purchasing an additional 892 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of Trex by 34.6% during the 1st quarter. Neuberger Berman Group LLC now owns 222,090 shares of the construction company’s stock worth $14,509,000 after purchasing an additional 57,070 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in Trex by 74.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 121,554 shares of the construction company’s stock valued at $7,941,000 after buying an additional 51,983 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.

Shares of NYSE:TREX opened at $64.65 on Monday. The company has a 50 day moving average of $62.34 and a 200-day moving average of $89.98. The firm has a market cap of $7.32 billion, a P/E ratio of 32.16, a P/E/G ratio of 1.47 and a beta of 1.44. Trex has a twelve month low of $51.76 and a twelve month high of $140.98.

About Trex (Get Rating)

Trex Company, Inc manufactures and distributes decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. The company operates in two segments, Trex Residential and Trex Commercial. It offers decking products under the names Trex Transcend, Trex Select, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.

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